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Thursday, January 24, 2013

S&P, Moody's, Fitch
Backscratching Rating Agencies
"The big 3 government backed ratings agencies S&P, Moody’s and Fitch .. played games to avoid downgrading U.S. credit. Basically, they scratched the government’s back, so the government scratched their back .. It is possible that Egan-Jones did something wrong .. It is clear that Egan-Jones was singled out and punished because of its cynicism as to the creditworthiness of the U.S. and its favored sons, such as the big banks."

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